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Jan 24, 2013 7:30am EST
deficit as exports slide. welcome to nhk world "newsline." authorities in north korea say they plan to carry out what they call a nuclear test of a higher level. they add that they plan to launch more long-range rockets. officials with the country's national defense ministry issued a statement warning of all-out action to defend north korea's sovereignty. >> translator: a series of satellite and long-range rocket launchers by the dprk and a higher nuclear level test are parts of an all-out action. this is a new phase in the anti-u.s. struggle that has lasts for centuries. we do not hide that the target of these actions is the united states, the sworn enemy of the korean people. >> the country's space agency launched a rocket last month. authorities claimed it was to orbit a satellite but other countries say north koreans were testing long-range ballistic missile technology. scientists in the north half carried out two previous nuclear tests in 2006 and 2009. experts have been suggesting for weeks that they could be preparing for a third. the united nations resolutions ban north kore
Jan 30, 2013 5:00pm EST
and the observation that -- and i will quote him -- "annual trillion dollar deficits have become the norm with the current administration." senator hatch is certainly right that that debt is too high. and annual trillion-dollar deficits have indeed briefly become the norm, but i would suggest that that's not the norm recently because of this administration. it's the norm because the economy collapsed. we all remember that the economy collapsed. and to withdraw federal spending from a collapsing economy is only to make things worse. the economic collapse created these deficits, and as the economy recovers, we can draw this will down. now, there's not aagreement on that. some have preached austerity as the way forward when the economy coul lapses. -- collapses of the and when this withstand, there was lively debate between those who support that would be more sensible than austerity. we're past us a started and now into experience much the experience of foreign countries belies that austerity works when economies are collapse ago. from spain to greece, european countries that responded to t
Jan 31, 2013 9:00am EST
-dollar deficits; and the very same president who warned against raising taxes in a down economy is proposing to raise taxes in a down economy. he's clearly getting a big assist on that front from the chairwoman of the budget committee, who says she's going to include tax hikes in the senate democrats' budget plan. that's a bad enough idea to begin with, but it's especially counterproductive considering yesterday's dismal growth numbers. because there are two things we know about tax increases for sure: first, they reduce jobs and hurt economic growth, and, second, they distract us from addressing the real problem, which is spending. as i've explained repeatedly on the floor over the past two weeks, government spending is completely out of control. completely out of control. it's projected to get much worse in years to come. even if the president got the additional tax increases he's asking for, we still wouldn't even come close -- not even close -- to solving the problem. and we certainly we need to get there by wasting time on poll-tested p.r. gimmicks that will hardly bring in any revenue.
Jan 24, 2013 6:00am PST
deficit as exports slide. >>> welcome to nhk world "newsline." authorities in north korea say they plan to carry out what they call a nuclear test of a higher level. they add that they plan to launch more long-range rockets. officials with the country's national defense ministry issued a statement warning of all-out action to defend north korea's sovereignty. >> translator: a series of satellite and long-range rocket launchers by the dprk and a higher level nuclear test are parts of an all-out action. this is a new phase in the anti-u.s. struggle that has lasted for centuries. we do not hide that the target of these actions is the united states, the sworn enemy of the korean people. >> the country's space agency launched a rocket last month. authorities claimed it was to orbit a satellite but other countries say north koreans were testing long-range ballistic missile technology. scientists in the north half carried out two previous nuclear tests in 2006 and 2009. experts have been suggesting for weeks that they could be preparing for a third. the united nations resolutions ban north kor
Jan 25, 2013 6:00am EST
a series problem with a trillion dollars budget deficit today but really largess that is the problem is dwarfed by our long run fiscal empowerment program. we know some of the basis reform, bipartisan reforms that can be enacted that will go a long way to getting medicare and social security, in particular under control on a more sustainable path. that's where congress should be looking as we debate fiscal policy this year beginning with the deficit. >> do you think investors looked beyond that debt ceiling to those fundamentals you talked about, answering questions american essays about getting the financial house in order ?-que?-que x do you think that creates the most uncertainty going forward in the long-term? >> it is a tremendous source of uncertainty. there are others but that is a major source of uncertainty. credit markets will surely look at as indicated by the letter transmitting the credit rating downgrade. >> thank you, mr. chairman. yield back. >> mr. rangel is recognized for five minutes. >> thank you, and welcome back, mr. chairman. i'm under the impression that the d
Jan 30, 2013 12:00pm EST
. that he expects there will be a balanced budget next year with no deficit and they will be able to breathe a little easier. >> also setting aside a little bit of money for the rainy day fund with the concern that while maryland's budget is in relatively strong shape, as we see the first lady trailing the governor there, shaking hands with senator madalino, while the budget situation has been cleared up in maryland, in washington it's a colossal mess. there is the threat of sequestration, automatic big spending cuts. and maryland in proximity to the district of columbia has so many jobs. not only people who work directly for the federal government, but people who work for contractors that supply the government. >> the governor is proposing in this budget to increase the rainy day fund from 5% to 6%. so that there is more money there. and there will also be a large amount of money in kind of a slush fund to use in emergencies. >> house steve michael busch will do the introduction of the governor. > [ applause ] >> and now say the state of
FOX Business
Jan 28, 2013 8:00pm EST
on right now to further reduce the deficit by asking the wealthiest 2% of americans to pay higher taxes for the first time in two decades. liz: really, reduce the deficit? that did not take long. all of that new tax money drummed up by raising rates on the upper bracket is gone. congress spending it all in one boat. says this is proof positive tax hikes alone won't be what fixes our debt. >> that is absolutely right. members of congress, particularly democrats getting reelected and help putting america back on a path for fiscal sanity. they will not be fiscal sanity. liz: it was just so ugly, whole group of taxpayers and dr. norse attacked, basically now resting the president whipping fastballs by the american people. clearly the american people are much smarter than that, what do you make of that? >> we know this from what the president has told us, every year he puts on a budget, every year we see it adds billions and billions over the next 10 years because it doesn't matter how much it taxes the american people, this isn't about taxing the rich, it is growing the size of government.
Jan 25, 2013 7:00pm PST
budget a year ago, the congressional budget office who does the forecast of what the deficit will be, that you have to shrink to get to balance, cbo has changed its forecast. it is more optimistic. it now forecasts $750 billion less in deficits over ten years, with no changes in policy than it did a year ago. so ryan is going to take advantage of the fact that the amount by which you have to shrink the deficit to get to balance is smaller than it looked like a year ago. the third one is interesting. remember, ezra, in ryan's budget a year ago he took credit for all the savings in medicare that are in the affordable care act, then he and romney disowned them. i bet they're right back in budget like they were last year. he will do all of those things, and then on top of them he will have huge cuts in, as you said, the part of the budget that is everything other than defense and everything other than entitlement programs, where education and environmental protection and food safety is. and the advantage for him there is he just lowers the total dollar amount for that part of the budget.
Jan 30, 2013 7:00am EST
who said this, she said this, when i think back myself in may 2010 when uk deficit was at 11%, when you were in office, right? and i tried to imagine, and i tried to imagine what the situation would be like to take if no such fiscal consolidation program had been decided, i shiver. that is what the imf says about the plan of the last labour government. now, he raises the issue of growth. >> order. it is not acceptable to shout down either the prime minister or the leader of the opposition, and the public have a very low opinion of that kind of behavior. let's hear the questions and hear the answers. the prime minister. >> he raises the issue of america, and american growth. the fact is our recession was longer and deeper than the recession in america. the biggest banking bust was not in the american banks, it was british banks. he doesn't want -- they won't talk back to more because he doesn't want to talk back yesterday when the key people responsible for the regulars of the bank and the performance of our economy are sitting right there on the opposition and just. [shouting] >> ed
Jan 24, 2013 1:00am EST
cliff brought our total deficit reduction over the past two years to $2.5 trillion. what's more, it set the stage for future further balanced agreements that include both spending cuts and new revenue. we should proceed with that effort, not plunge into further uncertainty. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves. the gentleman from smch recognized. mr. camp: i yield myself 15 seconds to say, standard and poor's downgraded the u.s. on august 5 after the solution was passed. therefore it reflects that what we agreed to falls short to stabilize the medium-term debt die nam ins. with that i yield two minutes to a distinguished member of the ways and means committee, the gentleman from wisconsin, mr. ryan. mr. ryan: i ask unanimous consent to revise and extend. the speaker pro tempore: without objection, recognized for two minutes. mr. ryan: you know what we know with certainty? we know with certainty a debt crisis is coming to america. this is not a question of if, it's a question of when. what is a deb crisis? it means we can't keep living beyond
Jan 27, 2013 10:00am EST
. this is not the democrats or republicans. his budget gave as $5.30 trillion in deficit. the only areas where we are decreasing is in our defense system. that is what needs to change. we need to make our case to the american people. right now they do not know that the only major area of government where he is making reductions is in our defense system. i did not agree with him when he wanted to change the emphasis on the middle east to the far east. that is why i went to the far east last week and looked. we have serious problems. we have changing of our personnel from japan to guam. this is the sign for the president's to be diminishing the punishment. i knew this was coming. i remember his first budget four years ago. i knew what he was going to do. he was going to be starting his army of america. in may sound and fair but that is what i mean. i went to afghanistan so i can watch what is going on. but remember what happened. he defunded are only fit generation fighter. he did the same thing with airlift capacity. he did away with our future combat system. that is the first time there has been
FOX Business
Jan 27, 2013 1:30am EST
into the presidency barack obama, who ignored, ignored his own deficit panel on recommendations. on the other thing, as a tactical matter, the republicans punting, i think it's a smart thing. you know, i think if they're going to really go to battle on this thing, they've got to get their acts together and have a game plan. because i'm telling you-- >> get their ax-- >> and if we default, this country is going to go through some major, major issues, and government's going to stop working and that's going to affect a lot of people. and we have not been through, when two-thirds of the federal government has shut down. >> adam, adam, this is it, charlie put it it in a nutshell, the scare tactic, that we're obligated to this mountain of debt until it falls on top of us, if that's the only route we have. >> we are, but let me try to put this in perspective. i absolutely agree with you, charles, politicians should be prepared to lose their jobs on major issues. there comes a gut check time. i'm going to do what's right. now, the question is, is this that time? i don't think delays the debt ceiling issue
Jan 23, 2013 7:00pm PST
for. exports plungeded in 2020 leadi to a record high trade deficit. imports rose as japan brought in more and more energy resources to fill a gap at home. finance ministry officials issued a preliminary report. they say the trade deficit came to about 6.29 trillion yen, more than $78 trillion. exports fell 2.7% in yen terms. the strong yen hurt exporters. they saw demand from europe drop off. exports from china dropped too. consumers there steered clear of japanese goods. imports rose 3.8% to $798 billion. the rise mainly due to higher demand for liquefied natural gas. investors are trading on the latest data. what is you been seeing this morning? >> right after that announcement investors sold the yen but the yen against the dollar has recovered to the mid 88 yen level now. the dollar yen currently trading at 88.55. analysts say that's been yen selling pressure is not as strong as it's been before the bank of japan policy earlier in the week. let's see how this is affecting stockers. investors are trying to cake ta cues from the yen move. some investors are taking profits while o
FOX Business
Jan 27, 2013 2:00am EST
money. >> weather you have ear marx or don't have earmarkings. you will have huge deficits and you will be problems as long as obama who wants to expand government over our lives. reduce the deficit by reducing the role of government. >> coming up. net flicks netting huge gains after strong gains and informers releasing their names. name to make you money, coming up.
Jan 29, 2013 7:00pm EST
with harry reid and turn this into a tax hike xwbill? >> what we need to do is focus on the long-term deficit. i agree. you raised the point about the need to get together and come up with a deal and eliminate the deficit, that would be great. but cutting a massive, massive cut in spending. but it is a bad idea. but you have a month. okay. march 1st is the deadline. five 12th of the fiscal year is over. that takes $24 billion out of the equation. so you are going to talk i don't know what the math is, i'm going to say $55 billion, nearly all of that is going to be slower growth. if we can't do that, then we can't do anything. remember, what we are doing here, that spending is somebody else's income. look, i'm all for long-term cutting. >> we have to start copying these programs. we gave $60 billion out in the relief bill. $40 billion of it was pork. the net cut here was almost zero. the economy was very soft. we can agree we want growth. >> but cutting spending is good for the economy. >> if you can cut spending and you don't reduce taxes you are sucking demand out of the economy. here is the
FOX News
Jan 28, 2013 1:00pm PST
this is money well spent negotiation? >> sure, but the issue is, do you add it to the deficit in door you go ahead and find offsets? there are a lot of things that folks have problems with. one is that the a lot of the spending did not happen until 2013 and in the future. there was an argument that okay, we will take care of the emergency needs in the next year and a half and declare those an emergency and allow that to go under the deficit but money spent after 2014, make that compete in the regular budget process with all the other money so that way you find offsets or lesser programs if we have to spend. so the question is not, do you spend the up. the question is, do you borrow from the future to spend the money or do you find other ways to take care of it? >> what do you think? some say there are so many things that go directly to the bottom line, to the deficit, to the national debt, why would you want to use emergency aid to have to answer to a higher calling? >> well, the question, should everything answer to that same calling, the bolt only line of where we are on deficit and debt.
Jan 24, 2013 7:00pm PST
the debt and deficit? >> let's listen to that. >> you utilize your position to work with the president to solve the debt and deficit issue. >> scepte i'm not here to go th the details why we didn't. there was a very, hard line position that prevented us from being able to come to an agreement which we just came to. but we came to it with far lesson the table and far less accomplished than we would have had if we had come to it a year ago >> and that is the most diplomatic answer than we had. >> well, it is telling that this is sort of the default position on anything. >> you got me on benghazi now debt and deficit. >> but this is the position of the republican ares on any kind of big picture item. we are outraged on his speech because he didn't talk about the deficit. >> what would he talk about? there is nothing else they have to wave. >> that is one issue where they have a political traction. there is a majority on americans. but they have made the calculation. there are a whole bunch of issues where they are not on the right side. most issue. >> they are trying not to talk about tho
Jan 27, 2013 11:15pm EST
. deficit cut to 4. northeastern ends the game on a 22-6 run of its own. george mason falls to northeastern 71-51 the final. >>> off the tiger turnover, getting ahead. eric green to brown for the jam. game tied at 33 at the break. second half. mcdaniels misses the three and hustles, too. booker tries to get the put back in. here comes daniels. tigers up 3. two minutes to go. tigers lead down to the 2. inside to milton jennings who hits the jumper. game high 28. virginia tech falls to clemson, 77-70 and drops to 4-8 in acc play. >>> of the two sides that weren't really trying, who tried harder? next.  >>> unlike next week's super bowl, where the two sides lay it all on the line, the pro bowl features two sides that lay as little on the line as possible. honor to go. five redskins invite, three playing. defense represented today in honolulu. always wanted to give maximum effort. manning to green. green had three touchdown catches today. third quarter, nfc leading. washington, one of the greats. look who is leading the way in the blocking. alexander clears the path for washington
Jan 28, 2013 7:00pm EST
of it this way. think of this. deficit spending robs taxpayers to finance government unions and special crony capitalist interest groups. that's why milton friedman called spending the gdp the ultimate tax burden. if you get spending gdp from 25% to 20%, wow, you'll be cooking up some economic growth. now, these cuts so-called it's about $80 billion, i think, in the first year, over ten years it runs about $1.2 trillion in total. i think it'll bolster confidence in business, i think it'll help markets, and i think it'll show people that the u.s. economy is not greece. now, everybody may not agree with me. and those that do disagree with me are, of course, wrong about this issue. but, yes, we will debate it. it's an important issue. but first up, here's what paul ryan says about why these cuts are important. >> we're not preaching austerity. we're preaching growth and opportunity. what we are saying is if you get our fiscal ship fixed, you preempt austerity. that's the -- here's what a debt crisis is. a debt crisis is what they have in europe which is austerity. ♪ alright, let's go. ♪ shim
FOX Business
Jan 24, 2013 4:00pm EST
stimulus and government deficit spending. without those two things and trillions of dollars the overall global economy wouldn't be where it is right now. i would also somely say that -- simply say the effects of deficit spending and central bank monetizaton of that debt is having a reduced effect every time they do more. my opinion as i look at data, the global economy is slowing. earnings growth is slowing. last year was the story of investors being willing to pay more but at the end of the year than the beginning of year for prices as pe multiple expansion occurred. think 2013 will be a much more challenging year not only stocks but --. david: let me force your hand on one issue here. do you think apple could be, everybody is looking at apple as though it is anomaly in otherwise healthy market, could apple actually be a forward indicator what might happen to the overall market? >> yes. apple's a great business. i own their products. they're a great story but i have to ask, does apple deserve to be the largest capitalized company on the planet, bigger than exxonmobil? i don't think so.
Jan 27, 2013 5:00am PST
with regard to the big deficits relates to the fact that the postal service has to prepay a fund that will pay for future retirees' health care benefits over the next five years. an accounting mechanism put into the law in 2007, requiring the postal service to pay $5.5 billion a year that has added up to enormous deficits that the postal service simply can't pay. if you look at the operating deficit of the postal service last year, it was about 2$2.5 billion and they are hoping to reduce that deficit this year. but the burden that they have with the big health care payments creating enormous pressure on the postal service and making difficult to adjust to the future. >> so i guess what is the answer then? can we just cut to the chase? what price do we really need here to get the postal service out of debt? >> well, you know, the postal service, we figure out how much money they would need and the prices, it could raise 25% or more. and given the competition with the internet, are you likely to get fewer pieces of mail and raise the prices even more. simply raising prices is not the solution. i
Jan 24, 2013 9:00am EST
, for trillion-dollar annual deficits and skyrocketing debt, but he fails to acknowledge that his stimulus bill borrowed more than a trillion dollars, increasing the debt by that amount, and secondly that obamacare will spend more than $2 trillion in its first decade. this side of the aisle, republicans have shown our willingness to pass a budget that stabilizes our public finances. indeed, i applaud the reaction of the white house and of democrats in the senate saying that for the first time since 2009, they're willing to take up and pass a budget in the united states senate, the first time since 2009. it's long overdue, but welcome news. likewise, we are willing to make compromises, not on principle but we're willing to find common ground and we're willing to take tough votes, and indeed that's part of the budget process because we know whether it's a family budget, whether it's a small business, whether it's a county, city, state or the federal government, that priorities have to be established in a budget because we know they always involve tough decisions. what's the most important, what d
Jan 27, 2013 12:00pm PST
ceiling for three months and figure out deeper cuts to reduce the deficit. that keeps me employed for a few more months. but even before that deadline hits, again, march 1st will be on us. the so-called sequester deadline. that's a stupid washington name for a stupid and dangerous washington creation. the automatic across the board spending cuts. and then there's another date to worry about, april 15th. not just tax filing day, but the date by which congress has promised to adopt a budget resolution. they've even this time staked their pay on it, agreeing to reach a deal or face suspension of their paychecks until they reach a deal. that might just be enough of a carrot to present a budget that takes on our ballooning deficit. but the battle over that deficit make that recent battle over tax hikes for the rich seem like a friendly game of badminton. big spending cuts are needed and they will hit americans where it hurts. health care, medicare, social security. president obama emboldened by his re-election has already drawn his so-called line in the sand. now, republicans have to b
Jan 27, 2013 8:00am PST
said has to be in it. >> you're going to need more revenue as well as more cuts to get the deficit down. i've talked to leader reid. budget claire murray. we're going to do a budget this year, and it's going to have revenues in it. and our republican colleagues better get used to that. >> so this is still a fight between how much spending cuts and how much taxes. the president got his -- >> well, simpson 3w0-bowles sai let's get rid of the high tax rates. the president doesn't want that. you had $1 trillion in tax increases with obama care. new tax increases at the beginning of this month. and now they are calling for even more tax increases, and they are not calling to cut spending. they are calling for spending increases. so basically what they're saying is, they want americans to pay more so washington can spend more. that's not going to help the economy, and that is not going to close the gap and balance the budget. the reason we want to balance the budget is not to make the numbers add up. we think that's necessary for growth and opportunity. we think it's necessary to make sure th
Jan 29, 2013 9:00am EST
spending and debt crisis. as we all know, bowles was tapped by president obama to lead a bipartisan deficit commission with former republican senator alan simpson. the two men, along with a commission, proposed recommendations for you are a big and bold plan to reduce our long-term debt. rather than heed some of these recommendations and build off of this bipartisan momentum cephal years ago -- several years ago, the president ignored it completely and since has done nothing and offered no plan of his own p. -- of his own to fix our dire fiscal plight other than to propose new taxes. as i mentioned in previous remarks the president got his tax increases on millionaires and billionaires, but no one should be fooled into thinking that this solves our fiscal crisis. recently in ain' in an intervier chief of staff erskine bowles rightfully criticized the administration and the congress for not striking a significant budget deal and called it the most -- that failure the most disappointing thing in my life. he went on to say, "ther "they'e bouncing from one crisis to noamplet it's nuts. we have
Jan 29, 2013 4:00am EST
that. spain might be even more trying to reduce its public deficit over the next couple of years. european officials will not make a decision until next month when they will assess the spanish austerity program on the 22nd of january. it was explained that europe information would have to take into account the growth prospect of the fiscal space for each country in europe and could, indeed, soften the spanish deficit target if the economy continues to contract. that's precisely what we are expecting because for the fourth quarter, we are expecting the spanish gdp to shrink by 0.4%. for the time being, spain has a deficit target of 4.5% for 2013. that seems to be really ambitious if not out of reach. because to meet this new target, the government would need to find $20 billion of additional euro cut. that won't help the spanish economy to go out of recession. for that reason, oli rehn thinks spain will need some incentive from stimulus measure toes improve its economy and boost its labor market. >> it has to be complemented with policies to help the unemployed find new work or tr
FOX Business
Jan 27, 2013 9:00am EST
marx or don't have earmarkings. you will have huge deficits and you will be problems as long as obama who wants to expand government over our lives. reduce the deficit by reducing the role of government. >> coming up. net flicks netting huge gains after strong gains and informers releasing their names. name to make you money, coming up. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro.
Jan 23, 2013 11:00pm PST
the state is back in the black instead of facing a substantial deficit. brown took office in 2011 under a $16 billion deficit. today the state has a surplus of $851 million. brown has more sway over the legislature than any governor in years. >>> a wet night for most of the bay area. rain returned after three weeks of clear skies. we want to show you outside, live picture of 101, and showers slowed the evening community. jeff is with us with a look at where the rain is now and what it means for the morning commute, jeff? >> the storm system will stick around at least for the next 45 minutes and longer for others as we head to tomorrow morning. right now with the radar scan. you see it's the extreme south bay with the consistent showers and in to downtown san jose, and right up to east bay. pockets of rain in pleasanton, it will push into livermoor, and a very wet evening right now on highway 101 and it's going to be a parking lot, do expect brake lights. overall totals, .43 in santa rosa. >>> now, here is the thing, tomorrow morning not done yet. showers will likely be here on the south
Search Results 0 to 49 of about 585 (some duplicates have been removed)